CIB Egypt among 484 int’l firms on 2023 Bloomberg GEI for 5th year

07 / 02 / 2023

By Marwa Nassar - -

The Commercial International Bank (CIB), Egypt’s leading private sector bank, is placed for the fifth straight year on the 2023 Bloomberg Gender Equality Index (GEI) which included 484 companies across 45 regions.

This comes in appreciation of the bank’s efforts to provide a safe workplace cherishing diversity, equality and inclusion, thus promoting individual and collective employee development and improving communication.

“We are extremely proud of this achievement, which highlights our continuous efforts in implementing gender equality principles in the workplace and our surrounding communities,” said Hussein Abaza, CIB CEO and Managing Director. “The Bank is committed to improving its policies by providing equal pay and opportunity to both men and women and enforcing anti-discrimination policies, which creates a safe and inclusive work environment that can attract talents and foster innovation.”

“CIB’s dedication to issuing gender-related reports on a yearly basis reflects its commitment to fairness and equality among employees and in its policies and activities.” said Peter Grauer, Chairman of Bloomberg. “The Bloomberg GEI’s strong reporting framework helps companies measure their commitment to gender equality and their ability to make a positive impact on their surrounding communities.”

The Gender-Equality Index (GEI) is a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting.

By publicly releasing detailed, consistent and comparable gender-related data, the companies included in the Bloomberg Gender-Equality Index are setting a new standard for data reporting.

The breadth of GEI member data is made available to the investment community on the Bloomberg Terminal. It includes disclosure by more than 600 companies, across developing and developed markets, and with depth that far surpasses the total data points made available by other providers.

Acceptance into the GEI supports members’ focus on women empowerment, and showcases their commitment to gender equality in the workplace. It also provides the investment community with the transparency they seek in quantifying the ‘S’ in ESG.